USDSEK

(Last Updated March 16, 2021)

Welcome to the news page for USDSEK (USDSEK). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for USDSEK

metric_name	reference_period	asset_name	asset_id	date	time	forecast	outcome
United States Retail Sales MoM	Feb 2021	US Dollar	USD	2021-03-16	12:30 GMT	-0.5%	-3%
United States Retail Sales Ex Autos MoM	Feb 2021	US Dollar	USD	2021-03-16	12:30 GMT	-0.1%	-2.7%
United States Export Prices MoM	Feb 2021	US Dollar	USD	2021-03-16	12:30 GMT	0.9%	1.6%
United States Import Prices MoM	Feb 2021	US Dollar	USD	2021-03-16	12:30 GMT	1.2%	1.3%
United States Capacity Utilization	Feb 2021	US Dollar	USD	2021-03-16	13:15 GMT	75.5%

The Trend

A trend/countertrend situation exists on USDSEK, in which an uptrend exists on shorter timeframes but a downtrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.

USDSEK Moving Averages

Nuances in the trend on USDSEK can be understood by observing the behavior of its moving averages. The 20 and 50 day averages are pointing upwards, suggesting a bullish trend, while the 100 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes. This implies that the long-term trend — meaning going back over 3 months — is bearish, while the trend over the past month and a half is bullish.

Below is a chart showing USDSEK’s price with its moving averages.

Regarding USDSEK’s correlations over the past 7 days, it has been most correlated with USDZAR. If we zoom out to a two week basis, though, the asset showing the strongest correlation to USDSEK is AUDCAD. On the flip side, NZDJPY has been the asset least correlated with USDSEK — but if we observe the prior two weeks, the asset least correlated with USDSEK has been AUDCHF. See the chart below to observe the recent price action in USDSEK versus those of assets it hasn’t been well correlated with.

The View From the Weekly Timeframe

At the moment, USDSEK’s rate is down -312 pips (-0.37%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. USDSEK’s weekly price action over the past 52 weeks can be seen via the chart below.